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Paul David Hiebing, Realtor
""The Quad-Cities Premier First-Time Home Buyer Specialist""
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- 11 Listings
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Paul David Hiebing, REALTOR @ Grampp Realty/GMAC Real Estate:
Davenport, Bettendorf, LeClaire, Eldridge, and Blue Grass, Iowa. Rock Island, Moline, ... show more
Davenport, Bettendorf, LeClaire, Eldridge, and Blue Grass, Iowa. Rock Island, Moline, ... show more
Paul David Hiebing, Realtor answered:
Jesse,
Yes being in Florida does change the whole scenario completely.... However the same rules to foreclosure prevention apply no matter where you live... Iowa, Florida or wherever... with a few minor differences..
You say that you doubt that you can rent your current home for enough to cover the $1,300/month mortgage payment.... which is probably true...... However, if you can rent the property for, lets say, $1,000/month, cover the additional $300/month for the mortgage payment, have some cash reserves left over to cover general maintenance, repairs, etc....... this will probably be a much better way to go than letting the home go to foreclosure..
While it will mean a loss to you for a period of time.... Always Remember... 60% of something is better than a 100% of nothing any day.
Good Luck,
Paul H.
Yes being in Florida does change the whole scenario completely.... However the same rules to foreclosure prevention apply no matter where you live... Iowa, Florida or wherever... with a few minor differences..
You say that you doubt that you can rent your current home for enough to cover the $1,300/month mortgage payment.... which is probably true...... However, if you can rent the property for, lets say, $1,000/month, cover the additional $300/month for the mortgage payment, have some cash reserves left over to cover general maintenance, repairs, etc....... this will probably be a much better way to go than letting the home go to foreclosure..
While it will mean a loss to you for a period of time.... Always Remember... 60% of something is better than a 100% of nothing any day.
Good Luck,
Paul H.
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